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Fly News Breaks for November 13, 2019
Nov 13, 2019 | 08:39 EDT
As previously reported, Rosenblatt analyst Ryan Koontz upgraded Five9 (FIVN) to Buy from Neutral with a price target of $75, up from $66, after coming away from the company's analyst event "thoroughly impressed." During the meeting, CEO Rowan Trollope articulated the company's "strong market position and vast market opportunity," said Koontz, who expresses confidence that both the company and key competitor NICE (NICE) are likely to see continued success ahead of a multi-year cycle. He also sees "downside protection" for Five9 shares given what he views as an acquisition premium in the stock.
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